The Burden of Debt

“At 18, you can’t even buy alcohol, but you can take out $50,000 in student loan debt.”—  Tonya RapleyWhile we can all agree that higher education is important, it’s crucial that we look at the financial system put in place to help students access it — and the brutal costs that are associated with it.My guest in this week’s episode is Tonya Rapley, an award-winning speaker, educator, bestselling author, and serial entrepreneur. She co-hosts the TV series Going From Broke, where she helps young debtors go from financial struggle to becoming CEOs of their own lives. She’s also a fantastic financial advisor who runs the website My Fab Finance.Tonya is passionate about helping people take control of their finances and find the light at the end of the tunnel of debt.Tune in for a sobering, honest, and informative conversation about the state of student loan and medical debt in the United States, the harmful aspects of these systems, and their impact on average American citizens.In‌ ‌this‌ ‌episode,‌ ‌you’ll discover:‌ ‌• Why young people NEED a show like Going From Broke in our current economic climate • How the American student loan system works — and why the system is morally broken• Real-life examples of hardships caused by the American health insurance system and medical or student loan debtAbout Tonya RapleyTonya Rapley is an award-winning content creator, speaker, educator, bestselling author, and businesswoman. She is the co-host of Going From Broke, a TV series on Crackle that is in its second season and executive produced by Ashton Kutcher. On the show, she helps debtors go from financial struggle to becoming CEOs of their own lives. She is the founder of the finance website My Fab Finance.Highlights:‌ ‌01:44  Meet Tonya Rapley & Going From Broke05:25  The  two types of clients06:40  Show origins & participants09:16  Student loan debt13:33  How US student loans are set up14:56  Payback & interest16:47  Inability to make payments17:37  CARES Act19:15  Alternatives20:39  Medical debt23:37  Health insurance24:29  Human impacts26:44  Canadian situation27:31  Steps to debt freedom ‌Links:‌ ‌Tonya Rapleyhttp://tonyarapley.comhttps://myfabfinance.comhttps://www.goingfrombroke.infohttps://www.crackle.com/watch/5757 Instagram & Twitter: @tonya.rapleyThe Money Manual: A Practical Money Guide to Help You Succeed On Your Financial Journey: CAN:https://amzn.to/3uqFMSoUS: https://amzn.to/34pifXuThe 5-Step Roadmap to Biz Finance Freedomhttps://melissa-houston-cpa-cga.mykajabi.com/5-step-roadmap-to-biz-finance-freedomWork with mehttps://www.melissahoustoncpa.com/work-with-me Want more tips and inspiration? Follow me on Twitter @melissahcpa and Pinterest @melissahoustoncpacga and visit my website: https://www.melissahoustoncpa.com.